INCOME TAXES |
3 Months Ended |
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Mar. 31, 2022 | |
| Income Tax Disclosure [Abstract] | |
| INCOME TAXES |
NOTE 9. INCOME TAXES Our forecasted annual effective tax rate (“AETR”) at March 31, 2022 was 6.66%, as compared to 12.92% at March 31, 2021. This decrease was primarily due to the reduced tax benefits from foreign rate differential, increased benefit for foreign derived intangible income and a change in valuation allowance as a result of changes in estimates of current-year ordinary income considered in determining the forecasted AETR. For the three months ended March 31, 2022 and 2021, our effective tax rate (“ETR”) was 143.35% and (27.15)%, respectively. The increase in the ETR for the three months ended March 31, 2022 is a result of favorable discrete items related to excess tax benefits from stock-based compensation that exceeded pre-tax book loss for the quarter. |
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- References No definition available.
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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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